Facebook profits top $10B as its CEO exalts the ‘metaverse’
3 years, 4 months ago

Facebook profits top $10B as its CEO exalts the ‘metaverse’

Associated Press  

Concerns about a revenue growth slowdown pushed Facebook’s shares lower in after-hours trading Wednesday, not long after the company reported that its second-quarter profits doubled thanks to a massive increase in advertising revenue. In a conference call with analysts, Zuckerberg called the metaverse the “next generation of the internet and next chapter for us as a company,” one that he said will create “entirely new experiences and economic opportunities.” For now, though, Facebook still has to contend with more mundane matters such as antitrust crackdowns in the U.S. and elsewhere as well as concerns about how it handles vaccine-related and political misinformation on its platform. “This quarter’s results are extremely strong and show little sign of impact from Apple’s iOS update as of yet,” said eMarketer analyst Debra Aho Williamson, noting that in the year-ago quarter Facebook saw its slowest revenue growth since going public, so it was an easy comparison. Williamson said the third quarter will be an important one for the company, “as the full effects of the Apple update take hold.” “We will have a much better sense of how well Facebook has been able to adjust its core ad targeting products to manage the reduced amount of information it can tap into,” she said.

Ads Company Revenue Billion Facebook Zuckerberg  share  ceo  half  metaverse  10b  second  profits  exalts  revenue  ad  billion  zuckerberg  facebook  company  ads

History of this topic

Facebook’s new AI-driven feed is causing people to spend way more time on their phones, Meta reveals
1 month, 3 weeks ago

Facebook’s new AI-driven feed is causing people to spend way more time on their phones, Meta reveals

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Facebook and Instagram users have significantly increased their screen time since a new …

Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter
4 months, 3 weeks ago

Facebook parent Meta forecasts upbeat Q3 revenue after strong quarter

The Hindu  

Meta Platforms beat market expectations for second-quarter revenue on Wednesday and issued a rosy sales forecast for the third quarter, signalling that robust digital-ad spending on its social media platforms can cover the cost of its artificial-intelligence investments. "Any apprehensions investors may have had about Meta's spending on AI and the metaverse are likely to be allayed by this quarter's …

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours
4 months, 3 weeks ago

Facebook parent Meta posts stronger-than-expected Q2 results, sending shares higher after hours

Associated Press  

SAN FRANCISCO — Investments in artificial intelligence will account for a significant increase in Facebook parent company Meta’s expenses in the coming year, but stronger-than-expected revenue from its advertising business was enough to reassure investors that its business is on the right track. “And unlike Google, which is grappling with making changes that will impact its core ad business, most …

Google parent reports another quarter of accelerating growth and its stock price soars
8 months ago

Google parent reports another quarter of accelerating growth and its stock price soars

LA Times  

The logo for Alphabet appears on a screen at the Nasdaq MarketSite in New York. Google’s corporate parent, Alphabet Inc., on Thursday released a quarterly report showing it’s still reaping double-digit revenue gains from its digital advertising empire while sowing potentially lucrative new ground in artificial intelligence. As has been the case since the company went public 20 years ago, …

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day
8 months ago

Mark Zuckerberg's wealth plunges after Meta shares sink 13% in one day

Daily Mail  

Meta shares crashed in after-hours trading Wednesday after the company warned profits will slip over the summer. Meta says it will see second quarter revenue between $36.5 and $39 billion. Shares were also hit after Meta said it expects overall expenses this year to be higher than it previously forecast - as the Facebook parent spends heavily to roll out …

'Best is yet to come': Mark Zuckerberg shares throwback video of launching Facebook
10 months, 2 weeks ago

'Best is yet to come': Mark Zuckerberg shares throwback video of launching Facebook

Hindustan Times  

As Facebook has completed 20 years, Zuckerberg took to Instagram to share a throwback video of him starting the company and the other things he accomplished along the way. After he posted the short clip, many netizens were inspired by him and even flocked to the comments section to express how his journey 'changed many lives'. Mark Zuckerberg shared a …

Facebook's first dividend stands to make a few very rich
10 months, 2 weeks ago

Facebook's first dividend stands to make a few very rich

BBC  

Facebook's first dividend stands to make a few very rich Getty Images After apologising at the US Senate online child safety hearing, Meta CEO Mark Zuckerberg announced Facebook's first dividend – a move that stands to make shareholders rich. Otherwise, these firms may lose investment dollars to companies like Facebook that offer one.” – John Pham, The Money Ninja What’s …

Meta posts sharp profit, revenue increase in Q4 thanks to cost cuts and advertising rebound
10 months, 3 weeks ago

Meta posts sharp profit, revenue increase in Q4 thanks to cost cuts and advertising rebound

Associated Press  

Meta Platforms Inc. tripled its profit and posted sharply higher revenue in the final quarter of 2023, boosted by a rebound in digital advertising as well cost cutting and layoffs in what CEO Mark Zuckerberg called the “year of efficiency.” “The company can talk all it wants to about AI and the metaverse, but it’s still a social media company …

Meta Q3 Results: Facebook parent beats revenue, profit estimates
1 year, 1 month ago

Meta Q3 Results: Facebook parent beats revenue, profit estimates

Live Mint  

Meta Platforms, the owner of social media platforms Facebook and Instagram, beat expectations for third-quarter profit and revenue on Wednesday led by a recovery in digital advertising spending. Meta, which also owns WhatsApp, reported a 23% rise in revenue to $34.15 billion for the quarter ended September, growing at the quickest pace in two years. The company forecast 2024 spending …

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue
1 year, 1 month ago

Facebook parent Meta posts sharply higher profit in 3Q thanks to increase in ad revenue

Associated Press  

Facebook parent Meta on Wednesday posted sharply higher earnings for the third quarter, boosted by an increase in advertising revenue and lower expenses after it laid off thousands of workers. “With its sustained upward trajectory, robust user engagement, and strategic cost optimizations, Meta is not only navigating choppy waters but also setting the course for uncharted territories of growth.” Meta, …

Facebook scraps multimillion-pound funding scheme as Sir Nick Clegg project fails
1 year, 3 months ago

Facebook scraps multimillion-pound funding scheme as Sir Nick Clegg project fails

The Telegraph  

Facebook’s Community News scheme was previously described by Sir Nick as something that “keeps journalism sustainable”. At the time of the tab’s 2018 launch, Facebook was under fire for allowing Russian troll farms to spread disinformation, including one notorious fake news factory linked to late Wagner mercenary chief Yevgeny Prigozhin. The Community News scheme helped Meta deflect criticism that its …

Meta posts higher profit, revenue for Q2 as advertising rebounds
1 year, 4 months ago

Meta posts higher profit, revenue for Q2 as advertising rebounds

The Hindu  

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. Analysts, on average, were expecting earnings of $2.91 per share on revenue of $31.08 billion, according to a poll by FactSet Research. Squeezed by a slump in online advertising and uncertainty around the global economy, …

Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds
1 year, 4 months ago

Facebook parent Meta posts higher profit, revenue for Q2 as advertising rebounds

Associated Press  

Facebook parent company Meta Platforms posted stronger-than-expected results for the second quarter on Wednesday, buoyed by a rebound in online advertising after a post-pandemic slump. Analysts, on average, were expecting earnings of $2.91 per share on revenue of $31.08 billion, according to a poll by FactSet Research. Squeezed by a slump in online advertising and uncertainty around the global economy, …

Mirror publisher blames Mark Zuckerberg for sales slump
1 year, 7 months ago

Mirror publisher blames Mark Zuckerberg for sales slump

The Telegraph  

The publisher of the Mirror and Express has blamed changes to Facebook’s news feed for a slump in revenues at the start of the year. Last year, parent company Meta overhauled Facebook’s news feed, splitting it into separate “Home” and “Feeds” tabs in a move that deprioritised posts from publishers. Speaking when the changes were made in July 2022, Meta …

Facebook owner Meta touts AI might as digital ads boost outlook, shares
1 year, 7 months ago

Facebook owner Meta touts AI might as digital ads boost outlook, shares

The Hindu  

Meta Platforms Inc. CEO Mark Zuckerberg said on Wednesday that AI was helping the company boost traffic to Facebook and Instagram and earn more in ad sales, as it forecast quarterly revenue well above analyst expectations. "I think similar to Alphabet, a lot of Meta's AI investments have gone into the advertiser side," said James Cordwell, analyst at Atlantic Equities. …

Facebook parent Meta posts solid 1Q results, stock soars
1 year, 7 months ago

Facebook parent Meta posts solid 1Q results, stock soars

Associated Press  

Facebook parent company Meta’s first-quarter results surpassed Wall Street’s modest expectations on both profit and revenue, sending its stock soaring in after-hours trading. “We’re also becoming more efficient so we can build better products faster and put ourselves in a stronger position to deliver our long term vision.” Meta Platforms Inc. said Wednesday it earned $5.71 billion, or $2.20 per …

Boost for Mark Zuckerberg as Facebook-owner Meta breaks year-long slump
1 year, 7 months ago

Boost for Mark Zuckerberg as Facebook-owner Meta breaks year-long slump

The Telegraph  

Shares in Facebook’s parent company Meta soared last night as it broke a losing streak to post its first rise in sales in a year. However, profits fell by 24pc and the company revealed a big drop in sales at its virtual reality division, showing that Mark Zuckerberg’s expensive bet on the metaverse is stuttering. The company’s overall revenue rise, …

Alphabet posts lower Q4 profit amid ad squeeze, competition
1 year, 10 months ago

Alphabet posts lower Q4 profit amid ad squeeze, competition

Associated Press  

Google’s parent company Alphabet on Thursday posted lower profit and a small revenue increase for last year’s fourth quarter, as a decline in online ad spending and competition from rivals weigh on the search giant. Alphabet, like Facebook parent Meta, Amazon and other tech companies, is navigating a rough economic patch that’s especially hurting the online advertising market. In response …

Meta posts upbeat outlook, plans $40 billion buyback
1 year, 10 months ago

Meta posts upbeat outlook, plans $40 billion buyback

Live Mint  

BY SALVADOR RODRIGUEZ | UPDATED 2月 01, 2023 06:12 晚上 EST Social-media giant plans to buy back additional $40 billion in shares, says its costs are set to decline and its global users increased Facebook parent Meta Platforms Inc. reported improving conditions in its underlying business and said it would buy back an added $40 billion in shares, a turnabout …

Facebook Used By Quarter Of World’s Population Daily In December: Report
1 year, 10 months ago

Facebook Used By Quarter Of World’s Population Daily In December: Report

ABP News  

Facebook added an average of two billion users in December who used the site daily — about a quarter of the world's population. As per a report by BBC, Facebook’s parent company Meta said that the number of users on the site daily increased by 4 per cent from a year earlier, adding users even in Europe, the US, and …

Facebook parent Meta cuts 11,000 jobs, 13% of workforce
2 years, 1 month ago

Facebook parent Meta cuts 11,000 jobs, 13% of workforce

Associated Press  

Facebook parent Meta is laying off 11,000 people, about 13% of its workforce, as it contends with faltering revenue and broader tech industry woes, CEO Mark Zuckerberg said in a letter to employees Wednesday. Although Meta has been hurt by broader economic trends that have curtailed spending on digital ads, the company’s challenges have been compounded by the rise of …

Column: Meta and Twitter show the drawbacks of giving self-satisfied billionaires too much power
2 years, 1 month ago

Column: Meta and Twitter show the drawbacks of giving self-satisfied billionaires too much power

LA Times  

Meta CEO Mark Zuckerberg announces the new name for his company, formerly Facebook, in October 2021. Back in the prehistoric era — in 2012, when Facebook staged one of the most hyped initial public stock offerings of all time — I warned the company’s newly minted shareholders that they had become wedded to Mark Zuckerberg. The stock reached its all-time …

Zuckerberg calls for patience as costs soar
2 years, 1 month ago

Zuckerberg calls for patience as costs soar

Live Mint  

Meta Platforms Inc. chief executive officer Mark Zuckerberg asked investors for patience with the social-media giant’s swelling investments in unproven bets at an already-challenging time for digital-advertising companies. On a call Wednesday, Zuckerberg sought to justify Meta’s ballooning costs to fund its version of virtual reality, the metaverse, as well as the artificial intelligence fuelling major changes to its social …

Facebook parent Meta’s revenue, profit decline amid ad slump
2 years, 1 month ago

Facebook parent Meta’s revenue, profit decline amid ad slump

Associated Press  

Facebook parent Meta on Wednesday reported that its revenue declined for a second consecutive quarter, hurt by falling advertising sales as it faces competition from TikTok’s wildly popular video app. “We’re approaching 2023 with a focus on prioritization and efficiency that will help us navigate the current environment and emerge an even stronger company.” Meta said it expects staffing levels …

Meta reports another drop in revenue, in a rough week for tech companies
2 years, 1 month ago

Meta reports another drop in revenue, in a rough week for tech companies

NPR  

Meta reports another drop in revenue, in a rough week for tech companies Enlarge this image toggle caption Nic Coury/Bloomberg via Getty Images Nic Coury/Bloomberg via Getty Images It's gotten tougher for Big Tech. Facebook and Instagram's parent company Meta said revenue fell 4% in the three months from July through September compared to a year earlier, from $29 billion …

Facebook Owner Meta Reports Revenue Decline For The First Time In Q2 Earnings
2 years, 4 months ago

Facebook Owner Meta Reports Revenue Decline For The First Time In Q2 Earnings

ABP News  

Meta Platforms clocked its first ever quarterly decline in revenue on Wednesday, Reuters reported. Citing Refinitiv, Reuters mentioned total revenue, which consists almost entirely of ad sales, fell 1 per cent to $28.8 billion in the second quarter ended June 30, from $29.1 billion last year. Monthly active users on Facebook came in slightly under analyst expectations at 293 crore …

Facebook parent Meta posts first revenue decline in history
2 years, 4 months ago

Facebook parent Meta posts first revenue decline in history

Associated Press  

Meta, the parent company of Facebook and Instagram, posted its first revenue decline in history Thursday, dragged down by a drop in ad spending as the economy falters — and as competition from rival TikTok intensifies. CEO Mark Zuckerberg said Meta is slowing its pace of investments and plans to “steadily reduce” employee growth after a hiring blitz earlier this …

Facebook suffers first ever fall in revenues as advertising slows
2 years, 4 months ago

Facebook suffers first ever fall in revenues as advertising slows

The Telegraph  

Mr Zuckerberg, 38, bet big on the metaverse last year in an effort to return the company to growth. On Wednesday, the US Federal Trade Commission filed an injunction to block Meta’s purchase of Within, a virtual reality company, and accused Mr Zuckerberg of an “illegal acquisition to expand virtual reality empire”. Revenues from its WhatsApp messaging app and virtual …

Facebook's parent company reports a drop in revenue for the first time ever
2 years, 4 months ago

Facebook's parent company reports a drop in revenue for the first time ever

NPR  

Facebook's parent company reports a drop in revenue for the first time ever Enlarge this image toggle caption Noah Berger/AFP via Getty Images Noah Berger/AFP via Getty Images Facebook parent Meta was hit with a double whammy in the last three months: revenue fell for the first time ever and profit shrank for the third straight quarter, amid growing competition …

Facebook founder Mark Zuckerberg delivers harsh message to employees
2 years, 5 months ago

Facebook founder Mark Zuckerberg delivers harsh message to employees

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy As tech stocks take a tumble amid a broader market downturn, Meta chief …

Sheryl Sandberg, long Facebook’s No. 2 exec, steps down
2 years, 6 months ago

Sheryl Sandberg, long Facebook’s No. 2 exec, steps down

Associated Press  

SAN FRANCISCO — Sheryl Sandberg, the No. As the company’s second most-recognized face — after CEO Mark Zuckerberg — Sandberg has also become a polarizing figure amid revelations of how some of her business decisions for Facebook helped propagate misinformation and hate speech. But she added that Facebook faced “huge scandals” under Sandberg’s watch — including the 2016 U.S. presidential …

Meta shares surge after Facebook ekes out user growth
2 years, 7 months ago

Meta shares surge after Facebook ekes out user growth

The Hindu  

Meta Platforms Inc surprised Wall Street with a profit beat and Facebook returning to user growth, although Meta forecast a conservative revenue outlook for the current quarter. Meta's profit soundly beat Wall Street targets at $2.72 per share, compared with an analyst consensus of $2.56, according to IBES data from Refinitiv. Facebook daily active users, a key metric for advertisers …

Shares of Facebook parent Meta soar despite growth slowdown
2 years, 7 months ago

Shares of Facebook parent Meta soar despite growth slowdown

Associated Press  

Facebook parent Meta’s first quarter profit and its count of daily users jumped past Wall Street’s expectations despite the company’s slowest revenue growth since going public a decade ago. Google also reported a revenue growth slowdown, but for Meta this appeared to have been mitigated by an increase in daily active users that “was enough to send the shorts covering …

How Did Wall Street Get Meta’s Earnings So Wrong?
2 years, 10 months ago

How Did Wall Street Get Meta’s Earnings So Wrong?

Bloomberg  

If you have a teenager in your house, you’ve known for a while that the Facebook app isn’t as cool as it used to be. Even so, Wall Street has held its parent company, renamed Meta Platforms Inc. last year, in the highest esteem. For years, analysts’ price targets kept climbing, at times implying double-digit returns. On that day, the …

Mark Zuckerberg loses another $2 billion in net worth as Facebook stock continues to slide
2 years, 10 months ago

Mark Zuckerberg loses another $2 billion in net worth as Facebook stock continues to slide

Daily Mail  

Facebook stock has ended its sharp sell-off, after CEO Mark Zuckerberg lost some $30 billion in net worth, while Jeff Bezos saw his wealth soar by $20 billion as Amazon stock surged. Facebook stock has ended its sharp sell-off, after CEO Mark Zuckerberg lost some $30 billion in net worth Facebook parent Meta's stock ended Friday's session at $237.09, roughly …

Facebook owner Meta shares witness biggest single-day crash in history
2 years, 10 months ago

Facebook owner Meta shares witness biggest single-day crash in history

India Today  

Shares of Facebook owner Meta plummeted 26 per cent on Thursday, the biggest single-day slide in market value for a U.S. company, after the social media giant issued a dismal forecast, blaming Apple Inc's privacy changes and increased competition. The huge drop, erasing over $200 billion from Meta's market capitalization and around $29 billion from Chief Executive Officer Mark Zuckerberg's …

Facebook stock tumbles 25%; Mukesh Ambani, Gautam Adani wealthier than Mark Zuckerberg
2 years, 10 months ago

Facebook stock tumbles 25%; Mukesh Ambani, Gautam Adani wealthier than Mark Zuckerberg

India TV News  

Highlights Markets hammer Facebook stock 25%, valuation tanks $230 billion Now, Mark Zuckerberg slips behind Mukesh Ambani, Gautam Adani This is a crash of about $230 billion from the social media networking giant's market capitalisation The pivot to Meta isn't helping Mark Zuckerberg's Facebook. At $87.7 billion, he slipped to No 12 in the Forbes real-time billionaires index - marginally …

Meta shares sink 20% as Facebook loses daily users for the first time
2 years, 10 months ago

Meta shares sink 20% as Facebook loses daily users for the first time

The Hindu  

Facebook owner Meta Platforms Inc's shares plunged more than 20% late on Wednesday after the social media company posted a weaker-than-expected forecast, blaming Apple's privacy changes and increased competition for users from rivals like TikTok. The 18-year-old tech giant, which also faces pressure from platforms like TikTok and Google's YouTube, said it expected slowing revenue growth in the coming quarter …

Facebook suffers biggest one-day fall in history as shares plunge over 26pc
2 years, 10 months ago

Facebook suffers biggest one-day fall in history as shares plunge over 26pc

The Telegraph  

Facebook suffered the biggest one-day drop in value of any company in Wall Street history as a dismal set of financial results prompted a brutal sell-off. Shares in Meta, the recently rebranded parent company, fell by 26.4pc, knocking over $230bn off its value, the day after it revealed that growing competition from TikTok had sent Facebook’s user numbers falling for …

Facebook loses daily users, ad growth drops down- Report
2 years, 10 months ago

Facebook loses daily users, ad growth drops down- Report

India TV News  

Highlights Massive stock drop instantly wiped out around $200 billion in its market value Meta-owned Facebook platform registered 1.929 billion daily users in fourth quarter of 2021 The user growth slowdown when the company announced that it would rebrand as a "metaverse" company For the first time ever, Facebook has lost daily users globally, reporting lower-than-expected ad growth that sent …

Facebook owner Meta to lift veil off its metaverse business
2 years, 10 months ago

Facebook owner Meta to lift veil off its metaverse business

The Hindu  

Since October, Facebook has renamed the company, articulated a vision of the internet where people can digitally connect through virtual-reality avatars or teleport to see places like ancient Rome, and helped trigger the metaverse investment craze. Meta plans to break out the results of its augmented and virtual-reality hardware unit, Reality Labs, for the first time,an investment the company previously …

Facebook, Twitter and YouTube lost nearly $10 billion in revenue after Apple introduced privacy change
3 years, 1 month ago

Facebook, Twitter and YouTube lost nearly $10 billion in revenue after Apple introduced privacy change

India Today  

Apple’s App Tracking Transparency Policy, which requires users to give consent to apps to track their online activities, cost social media apps including Snapchat, Facebook, Twitter, and YouTube nearly $10 billion in revenue, according to an online report. Apple’s App Tracking Transparency gives control to users over whether an app can track their online and iPhone activities and use the …

Facebook changes name to Meta to highlight virtual reality shift
3 years, 1 month ago

Facebook changes name to Meta to highlight virtual reality shift

Al Jazeera  

Facebook is changing its name to Meta – a move that decouples its corporate identity from its social network, which has been under increasing fire. Facebook Inc. is re-christening itself Meta, decoupling its corporate identity from the eponymous social network mired in toxic content, and highlighting a shift to an emerging computing platform focused on virtual reality. “The metaverse is …

Early Facebook investor blames major advertisers for ‘turning a blind eye’ to Facebook’s problems
3 years, 1 month ago

Early Facebook investor blames major advertisers for ‘turning a blind eye’ to Facebook’s problems

CNN  

New York CNN Business — Venture capitalist Roger McNamee says Corporate America shares blame for the troubles that exist today at Facebook. “The major advertisers have a lot of guilt here.” McNamee, who began advising Facebook co-founder Mark Zuckerberg in early 2006, said the problem is that the vast majority of companies prioritize maximizing shareholder value instead of what’s good …

Facebook invests billions in metaverse efforts as ad business suffers
3 years, 1 month ago

Facebook invests billions in metaverse efforts as ad business suffers

The Hindu  

Facebook Inc said on Monday it will break out its division focused on hardware, virtual and augmented reality into a new reporting segment, as its main advertising businesses face "significant uncertainty." Facebook warned that Apple Inc's new privacy rules would weigh on its digital business in the current quarter, after the social media company reported quarterly revenue below market expectations. …

Facebook invests billions in metaverse efforts as ad business slows
3 years, 1 month ago

Facebook invests billions in metaverse efforts as ad business slows

Live Mint  

Facebook Inc said on Monday it will start publishing the financial results of its augmented and virtual reality labs as a separate unit, where it is investing billions in its ambitions to build the "metaverse" and as it reported that its main advertising business faces "significant uncertainty." David Wehner, Facebook's chief financial officer, said the company expected its investment in …

Facebook invests billions in metaverse efforts as ad business slows
3 years, 1 month ago

Facebook invests billions in metaverse efforts as ad business slows

India Today  

Facebook said on Monday it will start breaking out the financials for its virtual and augmented reality unit, an announcement that comes as its main advertising businesses face "significant uncertainty." Facebook warned that Apple Inc's new privacy rules would weigh on its digital business in the current quarter, after the social media company reported quarterly revenue below market expectations. Chief …

Facebook profits rise amid revelations from leaked documents
3 years, 1 month ago

Facebook profits rise amid revelations from leaked documents

Associated Press  

Amid fallout from the Facebook Papers documents supporting claims that the social network has valued financial success over user safety, Facebook on Monday reported higher profit for the latest quarter. The company’s latest show of financial strength followed an avalanche of reports on the Facebook Papers — a vast trove of redacted internal documents obtained by a consortium of news …

People or profit? Facebook papers show deep conflict within
3 years, 2 months ago

People or profit? Facebook papers show deep conflict within

Associated Press  

Facebook the company is losing control of Facebook the product — not to mention the last shreds of its carefully crafted, decade-old image as a benevolent company just wanting to connect the world. “A curated selection out of millions of documents at Facebook can in no way be used to draw fair conclusions about us,” Facebook tweeted from its public …

Facebook stock: Wall Street sends a clear message to the social media company
3 years, 2 months ago

Facebook stock: Wall Street sends a clear message to the social media company

CNN  

New York CNN Business — The release of “The Facebook Papers” is a huge black eye for the social media company, one that could lead to even more calls from regulators and politicians in Washington to break up Facebook. “The Facebook Papers” are a trove of internal Facebook documents based on disclosures made to the Securities and Exchange Commission and …

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